Firms can use technology such as encryption to reduce the value of data if they are breached
, as criminals have to decrypt the data for them to be useful.
Last year, Connecticut passed legislation requiring free identity theft prevention and, under certain circumstances, identity theft mitigation services for individuals whose personal information has been breached
Europe saw 36 percent fewer incidents but a 28 percent increase in the number of records breached
indicating growing severity of attacks.
The global trend highlights social media as the top source for data breaches, accounting for over 56 per cent of records breached
. But in the UAE, it is more through app-based platform attacks.
Health care providers were the most common entity breached
, accounting for 70 percent of breaches and 21 percent of the total records compromised.
The materiality requirement mandates that the breached
contractual duty must be of significant importance, such as, when the injury suffered as a result of the breach will be of a weighty magnitude.
In the event that the confidentiality, or privacy, of the data is breached
, an organization must have controls, such as encryption, key management and user access management, in place to ensure that integrity of the data isn't tampered with and it can still be trusted.
Identity theft was the leading type of data breach, accounting for 69 per cent of all incidents constituting 26 per cent of breached
data in 2017.
When a relational contract breach takes place, the magnitude and consequences tend to have a larger impact on the employee; therefore, when employees perceive the employer has breached
a relational psychological contract, the feelings of violation are stronger than when a transactional psychological contract is breached
"IT consultant CGI and Oxford Economics recently issued a study, using data from the Breach Level Index and found that two-thirds of firms breached
had their share price negatively impacted.
Instead, what Houser has seen, is that the size of the breach, the profile of the breached
company, and the nature of the information stolen drives whether a lawsuit is likely to be filed.